Both private spending and government spending contribute to inflation.
Government deficit spending is out of control because every administration (GOP + DEM) is obsessed with an ever increasing GDP.
“If the government spends more than it collects in revenue, then there is a budget deficit. If the government spends less than it collects in revenue, there is a budget surplus. In fiscal year (FY) 2023, the government spent $6.13 trillion, which was more than it collected (revenue), resulting in a deficit. Visit the
national deficit explainer to see how the deficit and revenue compare to federal spending.”
“The federal government spent $ 6.13 trillion in FY 2022. This means federal spending was equal to
23% of the total gross domestic product (GDP), or economic activity, of the United States that year.“
Check out @FiscalService Fiscal Data’s new federal spending page! #FederalSpending
fiscaldata.treasury.gov